Marblehead Refines
Its Goldman Infusion

First Marblehead Corp., which packages student loans into asset-backed securities, said it won't be getting a credit line or as much cash as it had anticipated from Goldman Sachs Group Inc.

In December, Goldman offered the Boston company a $1 billion line of credit, which First Marblehead's chief financial officer called "extremely important to our company." A private-equity arm of Goldman also agreed to invest $260.5...